POT/BTC LONG after breakout
Updated
Hi
Going to buy a breakout of this small daily range. The price is a little erratic, but it's worth pursuing these setups on cryptos as the risk/reward can be in multiples of ten if it gets pumped. The price has also been though a pretty erratic 'resetting period' since the last pump and is beginning to become more consistent in it's waves.
What I'm looking for:
- We have an overall uptrend and the price is more or less respecting the larger trendline(yellow).
- The price is also holding above the moving averages, which are also holding green, and have been consistently moving up for the last few weeks.
- If we look on the weekly timeframe we can see that the the ALMA (arnaud legoux moving average) is turning green.
- If we break about the current range we will also have a third low bouncing off the faster trendline (pink)
Going to buy a breakout of this small daily range. The price is a little erratic, but it's worth pursuing these setups on cryptos as the risk/reward can be in multiples of ten if it gets pumped. The price has also been though a pretty erratic 'resetting period' since the last pump and is beginning to become more consistent in it's waves.
What I'm looking for:
- We have an overall uptrend and the price is more or less respecting the larger trendline(yellow).
- The price is also holding above the moving averages, which are also holding green, and have been consistently moving up for the last few weeks.
- If we look on the weekly timeframe we can see that the the ALMA (arnaud legoux moving average) is turning green.
- If we break about the current range we will also have a third low bouncing off the faster trendline (pink)
Order cancelled
Now that this has broken the pink line, it's probably better to cancel this and wait to see if what happens when it hit's the yellow trendline. there might be an opportunity there but the break of that pink trendline makes me feel that it's too erratic to get a good trade out of this. Particularly with Pascal pumping. Volume is being drawn away from these other alts.
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